Critical System Updates

Link Session ID Policy and Operational Guidelines

In 2015, CME Group introduced a new policy for the distribution and management of iLink session IDs as explained in the iLink Session ID Policy and Operational Guidelines. Now that rollout of the Market Segment Gateways is complete, the policy is being updated as noted below.

Friday, July 1, 2016 - iLink session IDs that fail to meet the minimum monthly volume thresholds for the month of July will be subject to the Monthly Inactivity Charge (MIC) which will appear in August Globex billing statements. Inactive iLink session IDs must be deleted on or before July 29 to avoid the MIC.

Friday, July 29 - all traded-in CGW iLink session IDs will no longer be available for use.

Beginning Monday, August 1, when traded-in, CGW iLink session IDs will have their delete date set to the first Friday three weeks after the date traded-in after which, they will no longer be enabled for order entry purposes.

Manual session ID Deletions:

All session ID deletion requests submitted to Global Account Management via e-mail must be received by 5:00 pm Central Time (CT), Wednesday, July 27. Session ID requests sent via e-mail after this time will be handled on a best efforts basis and any sessions that are not deleted will be subject to the MIC.

Request Center session ID Deletions:

Registered Entities with access to the Request Center can enter session ID deletion requests until 10:00 am CT, Friday, July 29. Any sessions that are not deleted will be subject to the MIC.

In order to avoid any unnecessary surcharges, all Globex firms are requested to review their iLink session activity located in the Session Stats section of the Firm Administrator Dashboard (FADB).

Please contact your Global Account Manager in the U.S. at +312 634 8700, in Europe at +44 203 379 3754, or in Asia at +65 6593 5505 with any questions.

CME Globex Performance Enhancements

Starting Sunday, July 10, CME Group began implementing an enhancement to futures and options markets on the CME Globex platform. In internal testing, these enhancements reduced latency on CME Globex greater than 10% for futures markets and 25% for options on futures.

There will be no changes to functionality or messaging format with these performance improvements. Good 'Till Cancelled and Good 'Till Date (GTC/GTD) orders will not be impacted.

CME FX Displayed Quantity Decommission

Effective close of business Friday, August 19, the Displayed Quantity order qualifier will be decommissioned for FX futures and options markets to support the upcoming Volatility-Quoted Options initiatives on CME Globex. Only CME FX products are affected by this change. Customers will no longer be able to define the Displayed Quantity in tag 210-MaxShow of the FX New Order or Cancel/Replace Request (tag 35-MsgType=G) messages.

To facilitate this change, customers are asked to cancel all FX Good ‘Till Cancel (GTC) and Good ‘Till Date (GTD) orders utilizing the Displayed Quantity after the close on Friday, August 19. After 16:00 CT on Friday, August 19, all remaining GT orders for these FX futures and options will be cancelled or deleted by the CME Global Command Center (GCC).

The FX Displayed Quantity order decommission is currently available in New Release for customer testing.

Network Time Protocol (NTP) Server Decommission

As a part of the expansion of CME Globex to Data Center 3, CME Group has deployed new Network Time Servers.

The following CME Network Time Protocol (NTP) server will be decommissioned effective Friday, August 26.

209.133.24.7

Customers who utilize the NTP synchronization service from CME Group are required to update their NTP configurations to the following NTP servers. These changes can be made at any time. If the NTP configuration is not updated, customers may not be synchronized to CME clock source.

Customers should update their configuration to utilize the following NTP servers.

With the launch of the Streamlined SBE Equity Indices Bloomberg feed, the corresponding streamlined FIX/FAST feed will be decommissioned on the Friday prior to the New Release and Production launch. Streamlined SBE Equity Indices S&P & Dow Jones will support parallel feeds for streamlined FIX/FAST and SBE in both the New Release and Production environments.

MDP 3.0 Schema

Starting on Sunday, September 25 (trade date Monday, September 26), CME Group will begin implementing new MDP 3.0 SBE schema files to support the upcoming Market by Order, Triangulation and Consolidated Fills initiatives onCME Globex. For more information regarding these initiatives, please see the CME Group Customer Forum. With the new MDP 3.0 SBE schema release, CME Group expects up to a 10% bandwidth increase per market data channel.

In order to ease customer development efforts, the new SBE schema files will support Template Extension. CME Group recommends that the new Schema file be downloaded and implemented on the production launch date for each channel.

Changes to BM&F BOVESPA (BVMF) Order Routing Offering

Effective end of day Friday, October 28, order routing and market data for BM&F BOVESPA (BVMF) products will no longer be available via the CME Globex platform. Existing order routing customers to BVMF markets should contact their Brazilian broker. Customers wishing to pursue market access to BVMF markets may also contact BVMF at +55 11 2565-5000 (dial ‘0’ for English, then ‘2’ for Trading).

Customers wishing to pursue market access to CME Group markets should contact Global Account Management in the U.S. at +312 634 8700, in Europe at +44 203 379 3754, or in Asia at +65 6593 5505.

New Functionality

NYMEX and DME Futures Implied Changes

Effective Sunday, August 7 (trade date Monday, August 8), the second-generation implied functionality will be removed from all NYMEX and DME futures on Market Segments 78 and 80, including all intra- and inter-commodity and inter-exchange spreads. First generation implied functionality will still be supported.

This change is currently available for customer testing in New Release.

To prepare for this change, all Exchange-Recognized UDS with intercommodity legs will be eliminated at end of day Friday, August 19. Please cancel any GTC or GTD orders on these spreads prior to the elimination.

To facilitate this change, all Generic (GN) 1:1 ON/LNE spreads and the associated orders will be removed. Customers are asked to cancel all Good 'Till Cancel (GTC) orders for the impacted spreads after their close Friday September 9, 2016. After 16:00 CT Friday, September 9, all remaining GTC orders for these spreads will be cancelled by the CME Global Command Center (GCC).

Volatility-Quoted Options

Effective Sunday, October 23, 2016 (trade date Monday, October 24), volatility-quoted options are scheduled to launch on six FX options products: Euro FX, British pound, Japanese Yen, Canadian Dollar, Swiss Franc and Australian Dollar in both American-style and new European-style options expiring at 2 p.m. Central Time (CT).

Volatility-quoted options is a functionality that allows CME Globex clients to trade an option contract with an 'auto-hedge' into the corresponding quarterly month of the underlying futures contract. When a volatility trade occurs, CME will use a standardized option pricing model to create a delta neutral combination of premium options and futures, and exchange these between the buyer and seller.

All of the volatility-quoted options products will be available in the New Release environment for customer testing on Monday, August 8, 2016.

To ensure customers can access, trade and process the market data for the new volatility-quoted FX options, CME Group will hold a mock trading session on Saturday, October 22. All customers and trading system providers who plan to support these products are strongly encouraged to participate. Additional information on the mock trading session will be available in future CME Globex notices.

Premium-Quoted European-Style Options on FX Futures

Effective Sunday, August 7 (trade date Monday, August 8), premium-quoted European-style options on the six Major FX futures will be listed for trading on the CME trading floor and on CME Globex and for submission for clearing via CME ClearPort.

These new European-style FX options will replace the existing American-style FX options once the existing listed contract months expire and roll-off over time.

The last listed American-style options for these FX options as of August 8, 2016, will be as follows:

November 2016 – Serial month

June 2017 – Quarterly month

September 2016 Week1 – Weekly contract

The new European-style listings on Day 1 (Monday, August 8, 2016) will begin with the January 2017 monthly expiry. Subsequent new expiry listings going forward will be listed as a European-style only, not as American-style.

Premium-Quoted European-Style Options on FX Futures

Product

MDP 3.0: tag 6937-Asset

iLink: tag 55-Symbol
MDP 3.0 tag 1151 - Security Group

AUD/USD Premium-Quoted European-Style Option – 2 pm Fix

ADU

XA

AUD/USD Weekly Premium-Quoted European-Style Option – 2 pm Fix

1AD – 5AD

XA

GBP/USD Premium-Quoted European-Style Option – 2 pm Fix

GBU

YB

GBP/USD Weekly Premium-Quoted European-Style Option – 2 pm Fix

1BP-5BP

YB

CAD/USD Premium-Quoted European-Style Option – 2 pm Fix

CAU

CD

CAD/USD Weekly Premium-Quoted European-Style Option – 2 pm Fix

1CD-5CD

CD

CHF/USD Premium-Quoted European-Style Option – 2 pm Fix

CHU

YS

CHF/USD Weekly Premium-Quoted European-Style Option – 2 pm Fix

1SF-5SF

YS

EUR/USD Premium-Quoted European-Style Option – 2 pm Fix

EUU

XE

EUR/USD Weekly Premium-Quoted European-Style Option – 2 pm Fix

1EU-5EU

XE

JPY/USD Premium-Quoted European-Style Option – 2 pm Fix

JPU

QJ

JPY/USD Weekly Premium-Quoted European-Style Option – 2 pm Fix

1JY-5JY

QJ

These new options are currently available in New Release for customer testing.

New - BTIC on S&P 500 Total Return Index Futures

Effective Sunday, August 28 (trade date Monday, August 29), the following BTIC on S&P 500 Total Return futures will be listed for trading on CME Globex and for submission for clearing via CME ClearPort.

BTIC on S&P 500 Total Return Index Futures

Product

MDP 3.0: tag 6937-Asset

iLink: tag 55-Symbol
MDP 3.0 tag 1151 - Security Group

BTIC on S&P 500 Total Return Futures

TRB

TB

BTIC on S&P 500 Carry-Adjusted Total Return Futures

CTB

CB

These changes will be available for customer testing in New Release on Monday, August 8.

These contracts are listed with, and subject to, the rules and regulations of CME.

Events and Announcements

Update - Messaging Efficiency Program New Product Group Additions

On Tuesday, July 5, 2016, the following product groups and levels were added to the Messaging Efficiency Program; however, surcharges will not take effect until trade date September 1, 2016.

Sector

Product Group Code

Product Group Description

Tier #3 Ratio

Tier #2 Ratio

Tier #1 Ratio

Energy

OP

Brent Crude Oil Last Day Financial Futures

180:1

120:1

60:1

Equity

EZ

E-Mini S&P 500 Outright Options

300:1

200:1

100:1

Equity

EW

E-Mini S&P 500 Weekly & Monthly Options

300:1

200:1

100:1

Equity

QZ

E-Mini NASDAQ 100 Outright Options

300:1

200:1

100:1

Equity

NW

E-Mini NASDAQ 100 Weekly & Monthly Options

300:1

200:1

100:1

Equity

C9

E-Mini Dow ($5) Outright Options

300:1

200:1

100:1

Equity

OL

E-Mini Dow ($5) Weekly & Monthly Options

300:1

200:1

100:1

†Additionally, KC HRW Wheat Futures and all non-equity option product groups where the corresponding futures product group is currently included in the Messaging Efficiency Program will be added to the Messaging Efficiency Program with surcharges, as of trade date Tuesday, November 1, 2016. For a full listing of the product groups and associated ratios which will be added to the Messaging Efficiency Program on this date, please view here.

CME Globex firms who exceed the benchmark ratios in the new product groups and are currently signed-up to receive Messaging Efficiency Program email notifications will be informed of any theoretical surcharges via a sample email notification.

The CME Globex Messaging Efficiency Program creates fair business guidelines by which customers are billed a surcharge for overly high message rates.

Please contact your Global Account Manager in the U.S. at 312 634 8700, in Europe at 44 203 379 3754, or in Asia at 65 6593 5505 with any questions.

CME Group Security Ecosystem

CME Group is committed to our customers’ information security. To deliver the best security and customer experience, as announced in the recent CME Group Customer Forums, all certified third-party customer-facing applications that support human-to-machine authentication to CME Group systems will be required to support strong passwords, encryption of confidential and sensitive data, and two-factor authentication by the end of 2016.

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Who We Are

CME Group is the world's leading and most diverse derivatives marketplace. The company is comprised of four Designated Contract Markets (DCMs). Further information on each exchange's rules and product listings can be found by clicking on the links to CME, CBOT, NYMEX and COMEX.